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Baumol’s Theory of Sales Revenue Maximisation

In: Modern Microeconomics

Author

Listed:
  • A. Koutsoyiannis

    (University of Waterloo)

Abstract

W. J. Baumol suggested sales revenue maximisation as an alternative goal to profit maximisation.1 He presented two basic models: the first is a static single-period model, the second is a multi-period dynamic model of growth of sales revenue maximisation. Each model has two versions, one without and one with advertising activities. We will first present these models, examine the predictions of Baumol’s theory in various situations, and then discuss the empirical evidence from research directed to the verification of the sales maximisation hypothesis. Finally, we state some criticisms of Baumol’s theory.

Suggested Citation

  • A. Koutsoyiannis, 1975. "Baumol’s Theory of Sales Revenue Maximisation," Palgrave Macmillan Books, in: Modern Microeconomics, chapter 15, pages 325-351, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-15603-0_15
    DOI: 10.1007/978-1-349-15603-0_15
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